Kimber Announces Year End Financial Results

VANCOUVER, Sept. 28, 2011 /PRNewswire/ – Kimber Resources Inc. (NYSE Amex:KBX,
TSX:KBR) has announced its financial results for the year ended June
30, 2011. All amounts in this news release are in Canadian dollars. 
The operating results were prepared in accordance with Canadian
generally accepted accounting principles and include a reconciliation
to United States Generally Accepted Accounting Principles pursuant to
Item 18 of Form 20-F. Kimber’s audited consolidated financial
statements, management’s discussion & analysis and annual report on
Form 20-F for the year ended June 30, 2011 are now available on SEDAR
at www.sedar.com and on EDGAR at www.sec.gov/edgar.com.

Kimber’s net loss for the fiscal year ended June 30, 2011 was $2,973,798
or $0.04 per common share, compared with a net loss of $4,126,614 or
$0.06 loss per share for the year ended June 30, 2010. The principal
reasons for the higher net loss in the previous year were write downs
of previously capitalized costs for the Pericones and Setago grass
roots exploration properties, based on exploration results from these
properties and Kimber’s decision to prioritize the exploration and
development of the advanced, high grade Monterde gold-silver project.

Kimber’s net assets increased by $9.4 million during the year ended June
30, 2011, mainly from cash received through shares being sold. In
addition, expenditures related mainly to exploration and technical
advancement at Monterde were capitalized as unproven mineral right
interests.

“During the year ended June 30, 2011 Kimber strengthened its cash
position and has made significant advancements in its flagship asset,
the Monterde project,” said Gordon Cummings, President & CEO of Kimber.
” Kimber initiated a significant drill program in January 2011, which
is progressing well and has yielded a significant number of high grade
gold-silver intercepts at levels deeper than previous drilling. In
addition an updated Preliminary Economic Assessment (“PEA”) for
Monterde was prepared independently by Micon International and various
consultants in accordance with the reporting requirements of National
Instrument 43-101, the results of which were reported on June 8, 2011
(with the final report filed on SEDAR on July 25, 2011).” Kimber ended
the year with cash of $8.4 million, an increase of $3.8 million over
the year prior. Funds were further enhanced by an $8 million financing
closed in July 2011, subsequent to the year end.  “We look forward to
the prospect of continuing the advancement of the Monterde project
towards a production decision and the exploration in and around the
principal gold-silver deposits that comprise the Monterde project with
the objective of increasing the existing mineral resources,” Said Mr.
Cummings.

Selected annual information

The following information is for the fiscal years ended June 30, 2011
and 2010:

     _____________________________________________________________________
    |                                         |      Year ended June 30   |
    |_________________________________________|___________________________|
    |(All amounts in C$)                      | |       2011| |       2010|
    |_________________________________________|_|___________|_|___________|
    |Results of operations                    | |           | |           |
    |_________________________________________|_|___________|_|___________|
    |Net loss                                 |$|(2,973,798)|$|(4,126,614)|
    |_________________________________________|_|___________|_|___________|
    |Net loss per share - basic and diluted   | |    $(0.04)| |    $(0.06)|
    |_________________________________________|_|___________|_|___________|
    |                                         | |           | |           |
    |_________________________________________|_|___________|_|___________|
    |Net cash used in operations              |$|(2,223,930)|$|(2,107,517)|
    |_________________________________________|_|___________|_|___________|
    |Net cash used in investing activities    | |(5,644,326)| |(3,097,620)|
    |_________________________________________|_|___________|_|___________|
    |Net cash provided by financing activities|$| 11,709,192|$|  6,310,054|
    |_________________________________________|_|___________|_|___________|
    |                                         | |           | |           |
    |_________________________________________|_|___________|_|___________|
    |Financial position                       | |           | |           |
    |_________________________________________|_|___________|_|___________|
    |Current assets                           |$|  9,607,731|$|  5,046,917|
    |_________________________________________|_|___________|_|___________|
    |Unproven mineral right interests         | | 48,839,128| | 42,647,361|
    |_________________________________________|_|___________|_|___________|
    |Total assets                             | | 58,995,943| | 48,192,238|
    |_________________________________________|_|___________|_|___________|
    |Current liabilities                      | |  1,915,016| |    541,627|
    |_________________________________________|_|___________|_|___________|
    |Total liabilities                        | |  1,915,016| |    541,627|
    |_________________________________________|_|___________|_|___________|
    |Shareholder's equity                     | | 57,080,927| | 47,650,611|
    |_________________________________________|_|___________|_|___________|
    |                                         | |           | |           |
    |_________________________________________|_|___________|_|___________|
    |Working capital                          |$|  7,692,715|$|  4,505,290|
    |_________________________________________|_|___________|_|___________|

The net losses for Kimber in the fiscal years ended June 30, 2011 and
2010 include non-cash charges for stock-option compensation of $694,922
in 2011 and $551,106 in 2010.

About Kimber

Kimber owns mineral concessions covering in excess of 39,000 hectares in
the prospective Sierra Madre gold-silver belt, including the Monterde
property, where three gold-silver mineral resources have already been
defined. The most advanced of these, the Carmen deposit, has been
extensively drilled and has undergone detailed geologic modeling. The
completion of the preliminary economic assessment for Monterde
represented a significant step forward for Kimber and is expected to
lead to further development and more advanced economic studies at the
Monterde deposits.  The subsequent discovery of high grade gold-silver
mineralization below the mineral resources used in the the preliminary
assessment adds a potentially significant new dimension to the
opportunities at Monterde.

Forward looking statements

Statements in this release may be viewed as forward-looking statements,
including statements regarding estimates of mineral resources at
Monterde, the preliminary assessment of the Monterde project, the
conversion of inferred resources to measured and indicated resources,
the conversion of mineral resources to mineral reserves, life of mine
estimates, the potential for gold and silver mineral resources in the
Carmen deposit and other targets within the Monterde project, the
further development, expected results and future economic assessments
of the Monterde project . When used in this press release, the words
“expect”, “intend”, “hopes”, “believe”, “may”, “will”, “if”,
“anticipates” and similar expressions are intended to identify
forward-looking statements. Such statements involve risks and
uncertainties that could cause actual results to differ materially from
those projected. Such risks and uncertainties include, among others,
uncertainty of mineral reserve and mineral resource estimates, risks
relating to fluctuations in the price of gold and silver, the
inherently hazardous nature of mining-related activities, potential
effects on Kimber’s operations of environmental regulations in the
countries in which it operates, risks due to legal proceedings, risks
relating to political and economic instability in certain countries in
which it operates, risks related to the use of inferred resources in
the preliminary assessment, and uncertainty of being able to raise
capital on favourable terms or at all, as well as those risk factors
discussed under the headings “Cautionary Note Regarding Forward-Looking
Statements” and “Risk Factors” in Kimber’s latest Annual Report on Form
20-F as filed on September 27, 2011.  There are no assurances the
Company can fulfil such forward-looking statements and the Company
undertakes no obligation to update such statements, except as required
by law. Such forward-looking statements are only predictions; actual
events or results may differ materially as a result of risks facing the
Company, some of which are beyond the Company’s control.

The technical information in this news release has been prepared in
accordance with Canadian regulatory requirements set out in National
Instrument 43-101 and reviewed by Mr. Petrus (Marius) Maré P.Geo.,
Vice-President Exploration of the Company.  The exploration activities
at the Monterde and Pericones project sites are carried out under the
supervision of Mr. Maré, who is the designated Qualified Person under
National Instrument 43-101 for the Monterde and Pericones projects.

Cautionary Note to U.S. Investors – The United States Securities and
Exchange Commission permits U.S. mining companies, in their filings
with the SEC, to disclose only those mineral deposits that a company
can economically and legally extract or produce.  Kimber Resources uses
certain terms on its website (and certain press releases), such as
“measured,” “indicated,” and “inferred,” “resources,” which the SEC
guidelines strictly prohibit U.S. companies from including in their
filings with the SEC.  U.S. Investors are urged to consider closely the
disclosure under the heading “Cautionary Note to U.S. Investors
Regarding Mineral Reserve and Resource Estimates” in our latest annual
report on Form 20-F which may be secured from us, or from the SEC’s
website at http://www.sec.gov/edgar.shtml.  

SOURCE Kimber Resources Inc.